Eamon Gilmore (Dún Laoghaire, Labour)

The Attorney General has advised that a referendum is not necessary in respect of the European Stability Mechanism. It is intended to have the matter dealt with in the House and it will be prepared in due course by the Minister for Finance. I am sure Deputy Mac Lochlainn joins me in welcoming the announcement this week that the Government has secured a significant change to the terms of the ESM which will allow Ireland to re-enter the markets at a much earlier stage by removing the preferred creditor status that was part of the original agreement.

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